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This is a call for plunder. And Papandreou went along with it 100%.

Note the dates: Papandreou's promise in your link was on 14 May, Juncker's call on 17 May. Papandreou was reacting(?) to earlier reported behind-the-scenes ECB/IMF pressure. Juncker was apparently saying "not enough".

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Thu May 19th, 2011 at 02:12:03 PM EST
[ Parent ]
There are two dynamics at play.

  1. Often, for political purposes, people will say things they know are not true. "Greeks need to implement austerity measures..." as though Greece hasn't. "Greeks need to change the retirement age..." as though it hasn't.

  2. Papandreou promised privatization, whereas Junker wants collateral. Big difference. With privatization, Papandreou and Greece can refuse to sell if they don't get their price in the market. If you put up collateral, however, you allow a creditor to seize your assets.

The Greeks are refusing to put up collateral.
by Upstate NY on Thu May 19th, 2011 at 05:00:32 PM EST
[ Parent ]


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